Tuesday, October 21, 2014
Top Story
Consortium wins $1.5B Suez Canal expansion contract
The Suez Canal Authorities has awarded a $1.5 billion expansion contract to a consortium consisting of Royal Boskalis Westminster N.V. (Netherlands), Van Oord, NMDC (Abu Dhabi) and Jan de Nul (Belgium), according to a Boskalis statement.
Each partner will be paid an equal share of $375 million to revamp the Suez Canal, an essential shipping link between Europe and Asia. The work on the expanded canal will in part run parallel to the current waterway and will in part involve widening and deepening parts of the existing channel.
The contract includes the construction of the parallel section of the Suez Canal approximately 50 kilometers long to allow ships to simultaneously transit in two directions. It also includes the widening and deepening of a number of existing sections to a depth of 78 feet, according to the statement.
The majority of the dredging activities for the canal expansion will be dug with 17 cutter suction dredgers. Boskalis noted the project will begin in 2014 and is expected to be complete in 2015.
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